HR Policy Urges Senate to Pass “Strong PBM Reform”

HR Policy joined with a broad coalition of business associations on a letter urging the Senate to pass the Pharmacy Benefit Manager Reform Act (S. 1339).

Why it matters: Drug costs are the number one health care affordability concern for Americans and rising drug costs are unsustainable for patients and employers. Clear information on pricing, rebates, fees, and discounts is essential for employers and patients to make informed decisions and to build a functioning free market for prescription drugs.

The big picture: PBM transparency alone is not enough –the same accountability standards that apply to employers should also apply to PBMs and any legislation should clearly specify the parameters of PBM responsibility to ensure they act in the best interest of the employers and patients they serve.

What's next: The Senate HELP Committee passed S. 1339 with broad bipartisan support and the Senate Finance Committee has advanced similar legislation for Medicare and Medicaid, but any floor votes on the bills may have to wait until after a budget deal is reached.